The UK economy took a surprise tumble in October, according to an early official estimate that showed a contraction of 0.3%. The Office for National Statistics (ONS) reported that output in all three main divisions - services, manufacturing and construction - was in negative territory. Economists had expected a flat performance, following on from the 0.2% growth seen in September. That meagre figure helped the economy to zero growth for the third quarter of the year, easing concerns on the prospect for a recession which is realised if a country records to consecutive quarters of contraction. Nevertheless, the latest data builds on…
